Penalty proceedings u/s. 140A(3) for failure of assessees to pay the tax due from them on self assessment.

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....2. The Board have been receiving complaints about the delayed initiation of penalty proceedings u/s. 140A(3) for failure of assessees to pay the tax due from them on self assessment. It is being rightly observed that since the purpose of providing for such penalty is to produce a deterrent effect on persons failing to pay the tax admittedly payable on the income returned any delay in initiating th....